H2B? LISA? - What to do? Please Help

CarlBurn85 · 30 October 2017 at 4:10PM

Apologises if this question has been asked 100 times, I just can't get my head around it.

I currently have open;
H2B paying at 3.5% (£4,887.88 at this time)
Bank has just closed my fixed ISA to an easy saver paying at .25% (£3,033.08 at this time)
LISA opened with Skipton at .50% with £1 only in.

Should I open another fixed saver with any bank and transfer the £3k into it and not touch it for another year or transfer it into my LISA? Seems pointless keeping it in a .25% when I can get .50%.

Other option I have seen is waiting until March 2018 and transfer my H2B to the LISA.

Can't see us buying a house until late 2018 early 2019 anyway. Will have to use the LISA as will not get one for £250k where we live (London :mad:)

Thanks for reading and any help in this would be greatly appreciated.

Neil_Jones · 30 October 2017 at 5:04PM

Depends what rate(s) you can get for another fixed saver. You won't get anywhere near 3.5% though and that is worth hanging onto.

If you think you may need access to the money, grab a 1.3% instant access account (or feed it into a top interest paying current account such as Tesco or Nationwide) - alternatively grab a non-ISA fix starting from 1.8% for a year with Atom, bear in mind you wont have access to this until it matures.

CarlBurn85 · 2 November 2017 at 5:26PM

Thanks very much Neil

H2B? LISA? - What to do? Please Help

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